Environmental & Energy
Mar. 23, 2020
PG&E reaches deal with Newsom
The Pacific Gas and Electric Co. must offer to sell itself to California if it does not emerge from bankruptcy on time or has its licensed revoked by regulators, according to an agreement the utility reached with Gov. Gavin Newsom announced Friday.
Pacific Gas and Electric Co. must offer to sell itself to California if it does not emerge from bankruptcy on time or has its licensed revoked by regulators, according to an agreement the utility reached with Gov. Gavin Newsom announced Friday.
"This is the end of business as usual for PG&E," Newsom said in a statement.
If PG&E's bankruptcy plan is not approved by the court and state regulators...
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